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MIRA INFORM REPORT
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Report No. : |
486537 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
No. 8, Weitai Road,
Phase 2, Zhiying Industrial Zone, Zhiying Town, Yongkang, Zhejiang Province,
321300 Pr |
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Country : |
China |
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Date of Incorporation : |
26.01.2010 |
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Credibility Code
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913307845505209832 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject includes manufacturing, processing and selling aluminum
products, household appliances (excluding bamboo and wood products), outdoor
leisure products, fitness equipment, hardware tools, household plastic
products; selling daily sundries (excluding dangerous goods); importing and
exporting goods and technology. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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China |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s, China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China continues to pursue an industrial policy, state-support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual liberalization. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi (RMB) after the currency was accepted as part of the IMF’s special drawing rights basket. After engaging in one-way, large-scale intervention to resist appreciation of the RMB for a decade, China’s 2016 intervention in foreign exchange markets has sought to prevent a rapid RMB depreciation that would have negative consequences for the United States, China, and the global economy.
China’s economic growth has slowed since 2011. The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) servicing its high corporate debt burdens to maintain financial stability; (c) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (d) dampening speculative investment in the real estate sector; (e) reducing industrial overcapacity; and (f) raising productivity growth rates through the more efficient allocation of capital. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and urbanization. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. Under President XI Jinping, Beijing has signaled its understanding that China's long-term economic health depends on giving the market a more decisive role in allocating resources, but has moved slowly on market-oriented reforms because of potential negative consequences for stability and short-term economic growth. He has also increased state-control over key sectors and Party control over state-owned enterprises. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time.
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Source
: CIA |
Company
name and address
YongKang YongAn DeLi Industry & Trade CO.,
LTD.
NO. 8, WEITAI ROAD, PHASE 2, ZHIYING INDUSTRIAL
ZONE, ZHIYING TOWN, YONGKANG, ZHEJIANG province, 321300 PR CHINA
TEL: 86 (0) 579-87551010 FAX: 86 (0) 579-87510282
EXECUTIVE
SUMMARY
INCORPORATION DATE : JAN. 26, 2010
Credibility code : 913307845505209832
REGISTERED LEGAL FORM : Limited liabilities
company
STAFF STRENGTH : n/a
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
MANUFACTURING, processing AND TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : UNKNOWN
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
Adopted
abbreviations:
ANS - amount not
stated
NS - not stated
SC - subject
company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Jan. 26, 2010.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders
contribute its registered capital jointly. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to extent of its total assets. The characteristics of this form
of co. are as follows: Upon the establishment of the
co., an investment certificate is issued to the each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes manufacturing, processing and selling aluminum products, household appliances (excluding bamboo and wood products), outdoor leisure products, fitness equipment, hardware tools, household plastic products; selling daily sundries (excluding dangerous goods); importing and exporting goods and technology.
SC is mainly engaged in manufacturing, processing and selling telescopic ladder, multi-purpose ladder, household ladder, etc.
Mr. Ye Anmin has been legal representative, executive director and general manager of SC since Jan. of 2010.
The number of employees is not available at present.
SC is currently operating at the above stated address, and this address houses its operating office and factory in the industrial zone of Yongkang. SC’s employee refused to release the detailed information of the premise.
http://deliladder.com/ The design is professional and the content is well organized. At present it is in both Chinese and English versions.
Email: yam@deliladder.com
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2016-01-28 |
Registration no. |
330784000070637 |
913307845505209832 |
Import/ Export License Number: 3300550520983
HS Code: 330796662W
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Hu Lei 50
Ye Anmin 50
l
Legal representative, executive director and
general manager:
Mr. Ye Anmin is currently responsible for the overall management of SC.
Working Experience(s):
From Jan. of 2010 to present Working in SC as legal representative,
executive director and general manager.
Also working in Dongyang Laiyin Tools Co.,
Ltd. as legal representative, and working in Yongkang Shoutai Industry &
Trade Co., Ltd. (in Chinese pinyin) as supervisor.
l
Supervisor:
Hu Lei
SC is mainly engaged in manufacturing, processing and selling telescopic ladder, multi-purpose ladder, household ladder, etc.
*Telescopic ladder
Single telescopic
ladder
Multi-purpose
telescopic ladder
Double telescopic
ladder
Alu. telescopic
ladder
*Multi-purpose
ladder
Small hinge
multifunctional ladder
Big hinge
multifunctional ladder
Strong
multifunctional ladder
Splay
multifunctional ladder
Little giant
ladder
Two ways ladder
Multi-purpose
scaffolding
Etc.
According to SC’s
staff, SC sells its products in domestic market, and to overseas market.
The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Note: SC declined
to release its major suppliers and clients.
Trademark &
Patents
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Registration No. |
15202646 |
11581614 |
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Registration Date |
2015-10-07 |
2014-03-14 |
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Trademark Design |
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Industry code:
3329
Industry name:
Other metal tool manufacturing
The gross domestic product of China in 2016
which is 74412.72 billion that is increased 6.7% than previous year.
From 2011 to 2015, main business income of
Chinese metalwork industry has been a rising trend, but growth rate has been
declining, the growth rate has declined from 30.5% in 2011 to 4.5% in 2015.
Main business income of Chinese metalwork industry was 3701.670 billion Yuan in
2015, and increased by 4.5% year-on-year.
From 2011 to 2015, total profit of Chinese
metalwork industry has been a rising trend, but growth rate has been declining,
the growth rate has declined from 30.2% in 2011 to 4.7% in 2015. Total profit
of Chinese metalwork industry was 210.22 billion Yuan in 2015, and increased by
4.7% year-on-year.
Dongyang Laiyin Tools Co., Ltd.
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Credibility code: 913307835693858659
Legal rep.: Ye Anmin
Incorporation date: 2011-02-23
Yongkang Shoutai Industry & Trade Co., Ltd. (in Chinese pinyin)
===============================================
Credibility code: 91330784325553359E
Legal rep.: Hu Lei
Incorporation date: 2014-12-15
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
Agricultural
Bank of China Yongkang Gushan Sub-branch
A/C #:
19626201040006700
Relationship:
Normal
SC’s management
declined to release any financial information.
SC has a development history of 8 years. Taking into consideration of SC’s
market conditions we would rate SC as an above average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.98 |
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1 |
INR 88.13 |
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Euro |
1 |
INR 78.35 |
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CNY |
1 |
INR 9.93 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.